Eastroc Beverage (09980) saw its shares surge over 10% at one point. As of the time of writing, the stock is up 7.18%, trading at HKD 141.8 with a turnover of HKD 58.51 million.

On the news front, Eastroc Beverage announced on the evening of May 29 that the company received notice from its controlling shareholder, Mr. Lin Muqin, regarding his purchase of 49,800 H-shares of the company through the Shanghai Stock Exchange trading system (including the Stock Connect) and the Hong Kong Exchanges and Clearing Limited trading system. This represents approximately 0.0069% of the company's total share capital.

The announcement indicated that, based on his high recognition of the company's intrinsic value and confidence in its future sustainable and stable development, Mr. Lin Muqin plans to increase his holdings of the company's H-shares within the next 12 months. The planned investment amount is no less than HKD 100 million and no more than HKD 200 million.